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Navigation FX - Technical Analysis
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[QUOTE="Navigation FX, post: 118909, member: 39595"] [SIZE=6][B][B]GBP/USD – Descending trend line[/B][/B] [/SIZE] GBP has been falling with the wake that the UK may have a ‘hard brexit’ as opposed to a soft brexit. Recent developments include that the UK may not even have access to the EU single market. Just come out a few minutes ago trade balance data has significantly missed expectations. A post that we will follow soon. We can see in the technical analysis that the GBP is following a descending triangle. Key resistance points include 1.21059 which it had just tested. RSI daily is indicating that sellers are continuing to enter the market. If the resistance of 1.21059 breaks, we may surely see sellers enter the market and rally the parity down further to 1.20658, making a potential of 40 pips... For more: [URL]http://www.navigationfx.com/gbpusd-technical-analysis-4/[/URL] [IMG]http://www.navigationfx.com/wp-content/uploads/2017/01/GBPUSD-1024x437.png[/IMG] [/QUOTE]
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